Measures that have recently been taken by the Iranian National Tax Administration (INTA) against the outbreak of Corona Virus (Covid-19) can be divided into two parts as follows: A) Intra-Organizational Measures (On the side of Employees) 1) Maintaining the social distancing strategy and moving towards the next...

UAE Confirms Details For VAT From January 2018

The UAE hasprovided more details on plans to introduce VAT at a rate of 5 percent acrossthe other Gulf Co-operation Council (GCC) member states on January 1, 2018.

The Ministry ofFinance said on its website that businesses will be able to register for thetax online three months before the launch.

Most registeredcompanies will need to submit returns detailing business activities andtransactions every three months, it said.

The UAE saidthat its VAT law is still being finalized. It will be made available onlinewhen that process is completed.

At a meeting onJune 16, 2016, ministers of finance from the Gulf Cooperation Council statesapproved, in principle, the introduction of VAT and new excise duties, as partof a common framework. It paved the way for the introduction of harmonizedexcise duties from January 1, 2017, and a pan-GCC VAT framework from January 1,2018.